Aadhar Housing Finance Limited Issue its NCD at attractive interest rate - RNews1 Network

Aadhar Housing Finance Limited Issue its NCD at attractive interest rate

Jaipur, Rajasthan, Aadhar Housing Finance Limited, Aadhar Housing NCD, Aadhar Housing Finance, affordable housing financing, EWS, LIG, Non-Convertible Debentures, Aadhar Housing IPO, IPO of Aadhar Housing, jaipur news, rajasthan news, business news, latest news
Jaipur : Aadhar Housing Finance Limited, Deposit taking housing finance company registered with the NHB and focused on providing affordable housing financing products for the EWS and LIG segment in India, in tier 2 to tier 4 cities and towns.

Proposes to open public issue of Secured Redeemable Non-Convertible Debentures of face value of Rs. 1,000 today, 1,40,00,000 for an amount of Rs. 50,000 lakhs with an option to retain over subscription up to Rs. 90,000 lakhs aggregating up to Rs. 1,40,000 lakhs. 

The Issue is scheduled to close on September 28th with an option of early closure or extension as decided by the Board of Directors of the Company or the Working Committee. 

Issue structure is tenure of 3 years, 5 years and 10 years in 1st to 4th category, and the Yields are 9.60%, 9.65% and 9.75% respectively. Category 4th Investors (Retail Individual Investors) are defined as Resident Indian Individuals and Hindu Undivided Families through the Karta applying for an amount aggregating up to and including Rs. 10,00,000 across all options of NCDs in the Tranche I Issue.

At least 75% of the net proceeds of the Public Issue of NCDs will be used for the For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company. A maximum of up to 25% will be used for general corporate purposes.

The Lead Managers to the Issue are YES Securities (India) Limited, Edelweiss Financial Services Limited, YES Bank Limited, Axis Bank Limited, A. K. Capital Services Limited, Green Bridge Capital Advisory Private Limited and Trust Investment Advisors Private Limited. 

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